With the finish line in sight, Goldman Sachs Macro Trader Bobby Molavi reflects on 2024's ups and downs (but mostly ups) and into year-end, sees no obvious catalyst to rotate and reposition.
The start of the year was met with uncertainty around geo-politics, inflation, rates, growth, gdp, recession, employment, energy as well as the small matter of a large chunk of the world going through elections.
We’ve had several walls of worry to climb throughout the year... conflict escalation….central bank policy error….higher for longer…..US regional banks….Nikkei flash crashes….Government churn and change (France/UK/US) to name a few.
